More Davos Elites Suggest Banning Cash...

Phoenix Capital Research's picture

A central theme for the Davos World Economic Forum is a push to ban cash.

Yesterday we outlined how Nobel Prize winning economist Joseph Stiglitz was urging the US to do away with physical cash.

Today, Paypal CEO Dan Schulman is doing much the same thing although in this case he claims that getting rid of cash will end “leakage” (Stiglitz and most elites usually suggest a cash ban will end money laundering or crime).

The digital revolution is making transactions cheaper and easier for millions of people worldwide and will eventually push out traditional forms of payment, like cash, PayPal's Dan Schulman told CNBC on Wednesday…

"I think what we came to the realization of is that the war is really against cash and against waste," Schulman said, speaking from the World Economic Forum in Davos, Switzerland. "There's tremendous leakage in the system."

Source: CNBC

These arguments are getting tiresome. If you want to see the real reason everyone at the top of the economic food chain wants to ban cash, take a look at what the Godfather of cash bans, former Chief Economist for the IMF, Ken Rogoff, stated in his research on the subject in 2014:

Rogoff has been calling for cash bans for years. He’s even written a book entitled “The Curse of Cash.”

Does Rogoff want to ban cash to end money laundering/corruption or reduce “leakage” in the system?


His primary concern… the #1 reason he wants to ban cash… is to permit Central Banks to cut rates BELOW zero.

This is what it’s all about… closing a loophole that permits you to save your cash from NIRP… even though there is no evidence ANYWHERE that NIRP is a successful policy.

After all, as long as you can take you money out of the bank in physical cash, you can escape NIRP.

This is why the elites, particularly economists, want to ban cash… it has NOTHING to do with cutting down on crime and EVERYTHING to do with increasing Central Bank control of the financial system.

Indeed, we've uncovered a secret document outlining how the Fed plans to ban physical cash and incinerate savings in the coming months.

We detail this paper and outline three investment strategies you can implement

right now to protect your capital from the Fed's sinister plan in our Special Report

Survive the Fed's War on Cash.

We are making 1,000 copies available for FREE the general public.

To pick up yours, swing by….

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research




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nationstates's picture

Today 19.1.2017

Maquarie Bank. Nsw Australia

The push towards electronic funding


  Upcoming fee changes   In February, we're making two changes to our fees.  
  • As we have a free service for online transfers up to $20,000, we're introducing a $10 fee for any withdrawal requests received by paper, email or fax for less than $20,000*.
  • All cheque requests going forward will be issued as bank cheques, incurring a $10 fee each. There will be no change to cheque books. You won't be charged a fee for any cheques issued from your cheque book although the $30 fee to purchase a cheque book remains.
To help you avoid these fees, we already offer several options that allow you to make payments and view transactions free of charge, including:  
  • electronic funds transfers (up to $20,000 a day)
  • unlimited transfers to nominated bank accounts
  • BPAY® payments (subject to BPAY® biller code limits) free of charge via online and mobile banking.
With just a couple of clicks, you can set up online banking at as well as download the Macquarie Mobile Banking app (iOS or Android) to view your balances and transact on the go, wherever and whenever you want.   If you have an adviser, they can now, once authorised, initiate payments from your account online. If you'd like to approve your adviser initiating payments for you, please get in touch with them directly to request this service.


  Digital banking with Macquarie gives you more than just financial information. It brings your finances to life, letting you budget, track, record and integrate every aspect of your wealth. 
bshirley1968's picture

All my life I grew up wondering why Hitler did what he did.  Let me be clear......not saying I agree with what he did........but in the last 5 years I have come to understand why he did it.  And you won't find the truth in the run of the mill history books.  What happened in Germany post WWII is happening all over the western world.  We are being raped by the money changers.

bshirley1968's picture

Three Jew boys, what a surprise they are calling for a ban on cash.  The Jew boy bankers have been trying to solve the "run on the bank" issue for centuries.  When they accomplish that, they can print and print until they have taken everything and what you and I are left with will be meaningless and worthless.  We would be their slaves.

Not going to happen to this American because the day they put that into law, I become a nation of one and the war is one.  That is one red line I have that will not be crossed without consequence.  They will not make me some worker bee serf and pay me in republic credits as long as I do, say, and think the way they want me to.  Death is not the end and I don't have anything that goes with me, so go on and push guys like me and you'll pray for days when rag head jihadist were you boogeyman. 

Loss of cash is loss of freedom......period.  They can stick their economy, GDP,  NIRP, and whatever else they think is important up their collectivist asses.  I'll help them.

Can't stand that PayPal commie Jew boy.  I do everything I can never to use them.  Parasitic, skimming whores each and everyone of them.  Bring it you greedy bastards. 

Trolly McTrollface's picture

What could possibly go wrong if all your savings are digital ? Now that nearly everything is digitalized we are ripe for a giant meltdown which is the big reset. After that it could be complete chaos. Be prepared people. Have some physical cash as well as gold and silver handy. A gun or two will be handy as well.

TheObsoleteMan's picture

There will be no savings, as it would just melt away like snow in July with negitive rates.

stant's picture

They will have to leaglize prostitution, drug dealers and crooked politicians, not sure how the CIA could operate going forward. Signed krugman

TheObsoleteMan's picture

Do you know what they mean when they use the word "leakage"? Leakage is the cash that is used in private transactions that don't get taxed. CASH IS LIBERTY, DIGITAL MONEY IS SLAVERY. Once they have their digital currency, it will be total control for them, and total bondage for the rest of us. They will see all transactions, and the tax will come right off the top, no way around it. They can also use digital currencies to limit your purchases of certain things, and force you to buy something you may not even want {Obamacare anyone?}. It is total control. These little control freaks calling for a ban on cash should turn up with their throats cut from ear to ear. Where is the Mafia when you need them? They have skin in this game too.

JailBanksters's picture

Why do all coins of world have the same color as Gold or Silver ?

Why do makers of Chocolate and Coffee like to use the word Gold in their Labeling ?

Because Gold has always been recognised as having Value and represents quality.

You'll never see Nescafe with a Mmmm Digital Blend.

And yet Central Banks still want you to believe that Gold is a Relic and Worthless.


Yonathan Zwift's picture

Gee, I wonder if they could "Turn Off My Cashcard" like they did my Youtube channel if they don't like what I say?

KuriousKat's picture

If you  dont Fear Christian Islamists of The East  which translates to submission and Obedience 

than you better fear the Islamic  Christians of the West  which is a  double down of the former.  Davos is a mecca for them and they will be returning with an electronic tablet  with the 1st commandment reading . Ban Cash  the second :Surrender or die.

bshirley1968's picture

What the hell are you talking about?  Islamist?  All three of these are Jew boys.  Better wake your dumb brain washed ass up and realize who the real enemy is here.

You sound like a Ken Hagee disciple.....dumbass.

pine_marten's picture

Force everyone into debit cards?  Won't happen. The infrastructure that supports electronic payment is too fragile.

Bobbyrib's picture

They'll have all your money, why would they care?

Grandad Grumps's picture

David Rockefeller is famously quoted fro saying "competition is a sin". If elitists want to remove cash then they should promote infinite free competition in monetary instruments; allow people to choose; and then make their cashless solution the most attractive.

Dictating to people (through the threat of force) what they can and cannot use as the method of their enslavement is not and has never been a popular solution.

David Rockefeller is just an ass.

dark fiber's picture

You really think Trump would go for it?

jfb's picture

I was fearing that 2 years ago but much less today since it is the equivalent of a hara-kiri for central banks.

Short term consequence: small businesses in big trouble with a 10% sudden tax on their bank assets, many bankrupcies, large corporations will get a "special treatment" and be untouched. So initially, and only at the outset, these ones will choke small enterprises.

Long term consequences: people realize gradually that they don't need the government to tell them which money to use; former notes and coins, silver, sugar, coffee, bitcoins(?), alcool will be more valuable than the electronic money that can be taxed overnight. Collapse of government revenues, small businesses/groceries who can be more flexible on the payment form will eventually displace big corporations.

wcvarones's picture

Revelation 13:17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

Herdee's picture

Right at the same time the Chinese are in talks to establish their Banks in Geneva, Switzerland. The competition to the U.S. Dollar trading system slowly moves upwards as the silk road to Europe becomes more clear.

Stormtrooper's picture

I wholly agree with the elites.  Let's ban cash in America and force a return to legal money.